Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent
|EURUSD, “Euro vs US Dollar”
EURUSD has rebounded from 1.1537 and reached the predicted downside target at 1.1461; right now, it is consolidating above the latter level. Today, the pair may move downwards to reach 1.1440. Later, the market may grow to return to 1.1461 and then form a new descending structure with the target at 1.1386. This structure may be considered as the third descending wave.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still consolidating above 1.2758. Possibly, today the pair may fall to reach 1.2787 and then grow towards 1.2825. After that, the instrument may continue consolidating and form a new descending structure with the target at 1.2725.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating at the top. Today, the pair may reach 0.9862 and then fall towards 0.9791. Later, the market may form one more ascending structure to return to 0.9862, break it, and then continue growing with the target at 0.9920.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading downwards to reach 107.51. After that, the instrument may start a new growth towards 109.31 and then form a new descending structure to return to 107.51, break it, and then continue trading inside the downtrend with the target at 105.95.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the descending impulse along with the correction; right now, it is forming the second descending impulse with the target at 0.7129. Later, the market may resume growing towards 0.7186 and then start a new decline to reach 0.7022.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still trading around 66.98. Possibly, today the pair may expand the range towards 67.32. After that, the instrument may resume falling to reach 66.50 and then start a new correction with the target at 68.13.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating at the top. Possibly, the pair may expand the range towards 1297.60 and then resume falling to reach 1282.22. Later, the market may form one more ascending structure to reach 1300.00 and then start a new decline with the target at 1276.50.
BRENT
Brent has finished the first descending impulse along with the correction; right now, it is forming the second impulse with the target at 58.86. After that, the instrument may reach 60.06 and then form a new descending structure towards 57.66. Later, the market may resume growing with the target at 64.34.
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